# Arent Inc.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第13期(2024/07/01－2025/06/30) (S100WRNQ)
> Page: https://vizora.meequs.com/en/company/arent
> Retrieved: 2026-09-30T18:22:53.022Z

## Company

Arent, founded in 2012, is a company in IT Services & System Integration listed on TSE Growth. It has 247 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Arent Inc. |
| Ticker | 5254 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5254.T) |
| Listing | TSE Growth |
| Head office | 東京都港区浜松町二丁目7番19号 |
| Representative (per filing) | 代表取締役社長 鴨林 広軌 |
| Founded | Jul 2012 |
| Share capital | ¥572.9M |
| Employees (consolidated) | 247 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | June |
| Website | arent.co.jp (https://arent.co.jp/) |
| Corporate number | 7080401018908 |
| EDINET | E38472 |
| Industries (Vizora) | IT Services & System Integration, Software & SaaS |

> Profile source: annual securities report (S100WRNQ, filed 2025-09-26). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 98.4 | 157 |
| Profitability | 99.7 | 196 |
| Cash conversion | 18.1 | 185 |
| Efficiency | 9.4 | 196 |
| Financial strength | 92.9 | 7 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 80% of Arent's sales come from Product Co-Creation Development, with In-house Product Development and Sales and Co-Creation Product Sales making up much of the rest.
- Out of every ¥100 of sales, about ¥42 is left as operating profit.
- Revenue changed +37.0% from the prior year, operating profit +36.8%.

## Company structure

- Segment revenue mix: Product Co-Creation Development 80.4%、In-house Product Development and Sales 10.8%、Co-Creation Product Sales 8.8%
- Revenue → net income: ¥4028518000 → ¥631332000
- Net income → operating cash flow: ¥631332000 → ¥840732000（difference ¥209400000）
- Main uses of operating cash flow: CapEx ¥99255000 / dividends — / buybacks ¥777000
- Change in cash: ¥-26468000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥4.03B |  |
| Operating income | ¥1.69B | Margin 42.0% |
| Net income | ¥633.5M | Margin 15.7% |
| Free cash flow | ¥741.5M |  |
| Largest business | Product Co-Creation Development | of segment revenue 80.4% |
| Employees (consolidated) | 247 |  |
| EPS | ¥-82.85 |  |
| Diluted EPS | ¥94.17 |  |
| Book value per share | ¥743.42 |  |
| Equity ratio | 78.9% |  |
| Shares outstanding | 6,439,580 |  |
| Treasury shares | 200 |  |
| Shareholders | 1,717 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 62.9% | Net cash ¥3.59B · Cash ÷ revenue 95.0% |
| Vs. industry median margin | +33.1 pp | IT Services & System Integration |
| ROE | 14.2% | Derived from disclosed figures |
| ROA | 11.4% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 63% of total assets
- FY2025, operating income keeps 42 per ¥100 of revenue

## What changed in 3 years

| Metric | FY ending Jun 2022 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1011934000 | ¥4028518000 | +298.1% |
| Operating income | ¥243011000 | ¥1690673000 | +595.7% |
| Operating margin | 24.0% | 42.0% | +18 pp |
| Employees | 42 people | 247 people | +488.1% |
| Cash and equivalents | ¥1931188000 | ¥3826528000 | +98.1% |

### Change in segment revenue mix

Span: FY ending Jun 2022 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| プロダクト共創開発 → プロダクト共創開発 | 80.4% |
| プロダクト共創開発 → 事業再編・廃止 | 12.3% |
| 共創プロダクト販売 → 共創プロダクト販売 | 7.3% |
| 自社プロダクト → 自社プロダクト | 0.0% |
| 新設・再編 → 共創プロダクト販売 | 1.5% |
| 新設・再編 → 自社プロダクト | 10.8% |

Segment revenue source references: 6 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Product Co-Creation Development | 3 years | +66.4% | ¥2501342000 | 56.6% | 2 |
| In-house Product Development and Sales | 3 years | +1586.3% | ¥335665000 | -25.9% | 2 |
| Co-Creation Product Sales | 3 years | +85.8% | ¥274979000 | -76.6% | 2 |

## Income statement（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,029 | 100.0% | S100WRNQ |
| Cost of revenue | 1,476 | 36.6% | S100WRNQ |
| Gross profit | 2,552 | 63.4% | S100WRNQ |
| SG&A | 862 | 21.4% | S100WRNQ |
| Operating income | 1,691 | 42.0% | S100WRNQ |
| Ordinary income | 868 | 21.5% | S100WRNQ |
| Pretax income | 1,093 | 27.1% | S100WRNQ |
| Income tax | 461 | 11.5% | S100WRNQ |
| Net income | 631 | 15.7% | S100WRNQ |
| Net income attributable to owners | 633 | 15.7% | S100WRNQ |

## Per ¥100 of revenue（FY ending Jun 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 37 |
| SG&A | 21 |
| Operating income | 42 |
| (Ref.) Net income | 16 |

### Margin funnel

Gross margin 63.4% → Operating margin 42.0% → Net margin 15.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +37.0%; Core profit growth: +36.8%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 0.99×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2024 → FY ending Jun 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,940 | 4,029 | 1,089 | +37.0% |
| Gross profit | 1,704 | 2,552 | 848 | +49.7% |
| Operating income | 1,236 | 1,691 | 454 | +36.8% |
| Net income attributable to owners | 658 | 633 | -25 | -3.7% |
| Operating cash flow | 850 | 841 | -9 | -1.1% |
| Free cash flow | 830 | 741 | -88 | -10.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2022 | 1,012 | 243 | 24.0% | -48 | 171 | 151 | S100RX1K |
| FY ending Jun 2023 | 2,022 | 708 | 35.0% | 318 | 834 | 781 | S100UF9V |
| FY ending Jun 2024 | 2,940 | 1,236 | 42.1% | 658 | 850 | 830 | S100WRNQ |
| FY ending Jun 2025 | 4,029 | 1,691 | 42.0% | 633 | 841 | 741 | S100WRNQ |

## People and productivity（FY ending Jun 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16.3M |
| Operating income per employee (consolidated) | ¥6.8M |
| Net income per employee (consolidated) | ¥2.6M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 42 | 61 | 153 | 247 |
| Average salary (parent company) | — | ¥6.7M | ¥7.3M | ¥7.7M |
| Average age (parent company) | — | 38.0 years | 38.5 years | 39.2 years |
| Average tenure (parent company) | — | 1.8 years | 1.8 years | 1.9 years |

Year over year: Employees (consolidated) +61.4% · Revenue (consolidated) +37.0%

## Segments（FY ending Jun 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Product Co-Creation Development | 2,501 | 80.4% | 1,415 | 56.6% |
| Co-Creation Product Sales | 275 | 8.8% | -211 | -76.6% |
| In-house Product Development and Sales | 336 | 10.8% | -87 | -25.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share |
| --- | ---: |
| Product Co-Creation Development | 80.4% |
| Co-Creation Product Sales | 8.8% |
| In-house Product Development and Sales | 10.8% |

Segment → industry: Product Co-Creation Development → IT Services & System Integration / In-house Product Development and Sales → Software & SaaS / Co-Creation Product Sales → Software & SaaS

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 841 | 20.9% | S100WRNQ |
| Capital expenditure | 99 | 2.5% | S100WRNQ |
| Free cash flow | 741 | 18.4% | 算出 |
| Investing cash flow | -841 | -20.9% | S100WRNQ |
| Financing cash flow | -20 | -0.5% | S100WRNQ |
| Share buyback | 1 | 0.0% | S100WRNQ |
| Change in cash | -26 | -0.7% | S100WRNQ |
| Cash and equivalents | 3,827 | 95.0% | S100WRNQ |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,931 | 3,215 | 3,853 | 3,827 | S100UF9V, S100WRNQ |
| Total assets | 3,063 | 4,520 | 5,060 | 6,085 | S100RX1K, S100UF9V, S100WRNQ |
| Net assets | 1,991 | 3,467 | 4,125 | 4,802 | S100UF9V, S100WRNQ |
| Share capital | 150 | 545 | 546 | 573 | S100RX1K, S100UF9V, S100WRNQ |
| Property, plant and equipment | 10 | 13 | 22 | 34 | S100RX1K, S100UF9V, S100WRNQ |
| Intangible assets excluding goodwill | 25 | 52 | 38 | 1,345 | S100RX1K, S100UF9V, S100WRNQ |
| Goodwill | — | — | — | 839 | S100WRNQ |
| Current assets | 2,244 | 3,610 | 4,429 | 4,564 | S100RX1K, S100UF9V, S100WRNQ |
| Current liabilities | 627 | 778 | 824 | 1,169 | S100RX1K, S100UF9V, S100WRNQ |
| Short-term borrowings | 182 | 120 | 120 | 120 | S100RX1K, S100UF9V, S100WRNQ |
| Long-term borrowings | 188 | 98 | 16 | 80 | S100RX1K, S100UF9V, S100WRNQ |
| Bonds | 258 | 177 | 96 | 35 | S100RX1K, S100UF9V, S100WRNQ |
| Interest-bearing debt | 627 | 395 | 231 | 234 | 算出 |
| Total liabilities | 1,072 | 1,053 | 935 | 1,283 | S100RX1K, S100UF9V, S100WRNQ |
| Non-controlling interests | 6 | 5 | 3 | 1 | S100RX1K, S100UF9V, S100WRNQ |
| Equity attributable to owners of parent | 1,981 | 3,459 | 4,118 | 4,805 | S100RX1K, S100UF9V, S100WRNQ |
| Retained earnings | 289 | 607 | 1,266 | 1,899 | S100RX1K, S100UF9V, S100WRNQ |
| Treasury stock | -3 | -0 | -0 | -1 | S100RX1K, S100UF9V, S100WRNQ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 63% | S100WRNQ |
| Property, plant and equipment | 0% | S100WRNQ |
| Intangibles and goodwill | 36% | S100WRNQ |
| Other assets | 1% | S100WRNQ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 4% | 算出 |
| Other liabilities | 17% | S100WRNQ |
| Equity | 79% | S100WRNQ |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: |
| Total assets | 3,063 | 4,520 | 5,060 | 6,085 |
| Equity | 1,991 | 3,467 | 4,125 | 4,802 |
| Interest-bearing debt | 627 | 395 | 231 | 234 |
| Cash | 1,931 | 3,215 | 3,853 | 3,827 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 0.8% | S100WRNQ |
| Fixed assets ÷ total assets | 0.6% | S100WRNQ |
| Goodwill ÷ parent equity | 17.5% | S100WRNQ |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 62.9% |
| Cash ÷ revenue | 95.0% |
| Net cash (cash − interest-bearing debt) | ¥3.59B |
| Net debt ÷ operating cash flow | -4.27× |
| Cash conversion (operating CF ÷ operating income) | 49.7% |
| Cash vs. profit gap | 207 JPY mn (of net income 32.7%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.5% |
| Investing CF relative to operating CF | 100.1% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | — | —× | -1.6% | —× | — | S100RX1K |
| 2023 | 15.7% | 0.53× | 8.4% | 1.39× | 11.7% | S100UF9V |
| 2024 | 22.4% | 0.61× | 13.7% | 1.26× | 17.4% | S100WRNQ |
| 2025 | 15.7% | 0.72× | 11.4% | 1.25× | 14.2% | S100WRNQ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 鴨林広軌 | Major shareholder | 35.8% | 2025-06-30 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 8.7% | 2025-06-30 |
| 佐海文隆 | Major shareholder | 5.4% | 2025-06-30 |
| SBI4＆5投資事業有限責任組合 | Major shareholder | 4.7% | 2025-06-30 |
| 中川高志 | Major shareholder | 4.2% | 2025-06-30 |
| 丸山篤史 | Major shareholder | 4.1% | 2025-06-30 |
| MSIP CLIENT SECURITIES (常任代理人 モルガン・スタンレーMUFG証券株式会社) | Major shareholder | 3.5% | 2025-06-30 |
| 大北尚永 （常任代理人 みずほ証券株式会社） | Major shareholder | 3.4% | 2025-06-30 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 3.3% | 2025-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.9% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第13期(2024/07/01－2025/06/30) | S100WRNQ | 2025-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WRNQ,, |
| 有価証券報告書－第12期(2023/07/01－2024/06/30) | S100UF9V | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UF9V,, |
| 有価証券報告書－第11期(2022/07/01－2023/06/30) | S100RX1K | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RX1K,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).